Tesla Automation GmbH, a subsidiary of Tesla Inc. TSLA, has reached an agreement to purchase assets from the German technology company Manz AG.
According to the press release issued on Tuesday, the deal involves acquiring Manz’s Reutlingen facility along with over 300 employees working there. Tesla Automation plans to manage this new location moving forward.
The transaction is awaiting clearance from the German Federal Cartel Office under antitrust regulations, and the purchase price has not been revealed.
Manz AG has initiated insolvency proceedings following a ruling by the Local Court of…
